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Wells cuts even more jobs

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Mortgage Professional America | 18 Oct 2013, 06:37 AM Agree 0
Wells Fargo is slashing yet more jobs as demand for refinancing stays sluggish
  • Paulsmoney | | 18 Oct 2013, 08:35 AM Agree 0
    ...and so it goes. WF will rely on their lending conduit while it is convenient and let broker submissions carry the day until WF decides maybe they don't want to lend in that fashion. Meanwhile those brokers relying on WF as their lending source get the shaft with declining services because of the lay-offs.
  • Bill in Florida | | 18 Oct 2013, 09:17 AM Agree 0
    They dumped the wholesale traditional conduit last year. They'll continue to live off their huge servicing base for a while longer. Wait till business really tanks and sooner or later they'll have ton get back on tap. Hope the industry can wait that long on these lenders to wake up.
  • Mary | | 18 Oct 2013, 10:22 AM Agree 0
    The Wells CEO made the strategic decision to go directly to the RE Agent for the business. Loan Brokers were irrelevant in his view as the broker channel was only a minimum percentage of their book of business. How has that strategy worked out? Much of the stigma against Loan brokers and originators was propagated and promulgated by this CEO and Chase's CEO. We are all in the same line of work; pointing fingers at one another, doesn't help our Industry.
  • David-Massachusetts | | 12 Nov 2013, 10:25 AM Agree 0
    When will Wells finally buy and control Fannie?
  • David-Massachusetts | | 12 Nov 2013, 10:26 AM Agree 0
    When will Wells buy Fannie Mae?
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